Americans for Prosperity/New Jersey will join with the Essex County Tea Party Coalition to hold a seminar on New Jersey’s cap-and-trade system, which few in New Jersey realize that New Jersey has.
AFP said in an e-mail today that they intend
to educate citizens about the Cap & Trade scheme and to advocate for New Jersey’s withdrawal from the ten state cooperative.
The Regional Greenhouse Gas Initiative (RGGI) includes ten Northeastern and Mid-Atlantic States (Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont) who have agreed to pass regulations to lower emissions of carbon dioxide into the atmosphere. The theory behind it is that carbon-dioxide is a heat-trapping gas, the proportion of carbon dioxide in the atmosphere requires a fine balance, and that the emissions of carbon dioxide by human industry and transportation are increasing that proportion to throw it out of balance.
The RGGI holds auctions of “carbon permits” quarterly. It has held ten such auctions thus far; they have scheduled the next one for March 9, 2011.
New Jersey entered the RGGI during the administration of former Governor Jon S. Corzine. But present Governor Chris Christie has insisted on continuing to participate. Worse yet, New Jersey’s government refuses to release any records pertaining to RGGI, this although New York regards those records as public records and accordingly has released them, according to New Jersey Watchdog.
New Jersey Watchdog Correspondent David Stevenson recently published this profile on the RGGI and on cap-and-trade efforts nationwide. He estimates that the initiative will cost the residents of the member States “$3.5 billion in hidden taxes,” including $419 million to New Jersey residents alone. His article includes a table showing how far each State has actually gone in reducing carbon-dioxide emissions. (New Jersey has achieved a 28 percent reduction, or 1 percent less than RGGI average, while Rhode Island has seen a 17 percent increase. By far the biggest reducer of emissions is Vermont, with an incredible 96 percent, even accounting for the recession.)
The last column in the table is the kicker. It shows the amount of time for the economy of mainland China to replace the emissions that each State foregoes. The time is listed in minutes.
Even that is not the real bombshell. As Stevenson reports, the reductions are due in large measure to the closings of power plants, requiring the importation of electric power from non-participating States. Other reductions resulted from switching away from coal to natural gas, which burns far more efficiently, and from “improvements in efficiency at existing nuclear and hydroelectric plants.”
Assembly Members Michael Patrick Carroll and Allison Littell McHose have introduced this bill to end New Jersey’s participation in the RGGI and to release all moneys now collected for general purposes. Senators Mike Doherty and Steve Oroho have introduced companion legislation in their house.
Tonight’s seminar (weather permitting) will take place at the Essex Manor, 41 Broughton Avenue, Bloomfield, NJ 07003, from 7:30 to 8:30 p.m.
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